ADCB in US$2.5m bond issue

Abu Dhabi Commercial Bank (ADCB) has unveiled plans to issue medium-term bonds in euros, worth US$2.5 billion. The bank’s administration will hold a meeting next month to authorise its board to initiate the bond programme. Meanwhile, ADCB has entered the home mortgage market by signing a memorandum of understanding with Damac Properties to provide mortgage finance against Damac properties.